Becoming a Permanent Resident in Singapore

Singapore is a rapidly developing country when it comes to business, and even though the country itself my be small (it's only 274 square miles), it has a significant business presence. As such, many people find themselves being transferred to Singapore for business. A good number of people who move there end up liking it and wanting to say. Someone in this position has the option of applying to become a permanent resident, although there are certain conditions that must be met.

Singapore has a population of over 5 million, and around 40% of these are foreigners (in 2009), and around 400,000 of these people are permanent residents. If someone plans to be there for a while, becoming a permanent resident offers some advantages. Let's take a look at these;

Permanent residents are allowed to live, work and own property in Singapore, although the type of property is restricted to second-hand apartments. Only citizens can buy new apartments. Permanent residents are able to get housing loans from banks for up to 80% of the value of the property. They are also allowed to stay in the country without visa restrictions. For example, if you're in Singapore on a work visa and you lose your job, you only have a limited amount of time to find another job before you won't be allowed to stay anymore, but as a permanent resident you won't have this restriction. You are also entitled to pension contributions from your employer.

The application for this status requires two main criteria to be met: You have to be under 50 years old, and you have to have lived and worked in Singapore for at least 6 months. Priority is given to people who are able to work and contribute to society.

Aspirations

I am looking for my next big adventure. There are still many places I want to visit and even more to which I want to return. The camera is charged up and my backpack is packed; drop me a line if you know where I should go next.